Swiss National Bank Takes Position in Navan, Inc. $NAVN

Key Points

• Swiss National Bank bought 92,300 Navan shares in the first quarter, valued at approximately $1.22 million, while several other institutional investors also initiated or increased positions.
• Analysts remain broadly positive, with 14 Buy ratings, one Strong Buy, one Hold and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $29.07.
• Navan reported quarterly EPS of $0.08, beating estimates by $0.20, while revenue rose 39.8% year over year to $220.23 million. However, insiders sold 5.14 million shares worth about $102.9 million over the past three months.

Swiss National Bank bought a new position in Navan, Inc. (NASDAQ:NAVN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 92,300 shares of the company's stock, valued at approximately $1,222,000.

A number of other institutional investors and hedge funds have also modified their holdings of NAVN. Royal Bank of Canada purchased a new stake in Navan in the 4th quarter worth about $35,000. California State Teachers Retirement System acquired a new stake in Navan during the 4th quarter worth about $39,000. Russell Investments Group Ltd. purchased a new position in Navan during the 4th quarter valued at about $51,000. Strs Ohio grew its stake in Navan by 86.4% during the 1st quarter. Strs Ohio now owns 12,300 shares of the company's stock valued at $163,000 after acquiring an additional 5,700 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Navan in the 4th quarter valued at about $101,000.

Insider Buying and Selling

In related news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $25.36, for a total value of $227,808.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Ilan Ezra Twig sold 24,726 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $520,729.56. Following the completion of the sale, the chief technology officer owned 805,860 shares of the company's stock, valued at $16,971,411.60. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 5,139,153 shares of company stock valued at $102,867,420. 63.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NAVN shares. BNP Paribas Exane increased their price target on shares of Navan from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Navan from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, June 12th. Oppenheimer set a $30.00 target price on shares of Navan in a research report on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Finally, Citizens Jmp boosted their price target on shares of Navan from $31.00 to $38.00 and gave the company a "market outperform" rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.07.

Navan Stock Down 0.3%

Shares of Navan stock opened at $26.62 on Friday. The firm has a market cap of $6.77 billion and a price-to-earnings ratio of -12.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $28.22. The stock has a 50-day simple moving average of $23.35 and a 200-day simple moving average of $16.71.

Navan (NASDAQ:NAVN - Get Free Report) last released its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The business's quarterly revenue was up 39.8% on a year-over-year basis. On average, equities research analysts expect that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Navan Company Profile

Navan NASDAQ: NAVN is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.

Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.

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